United Report Loss of £83.6m (Merged)

[mancitymick]

These thick rags cant get it into there heads. They go on about the 100 million operating profit. To put it in laymens terms. They put a tenner on a horse, it wins and returns a nice 100 quid. they brag about it but dont tell you they lost 500 quid on other bets throughout the day with no return

 

[Project]

In amongst the Utd loss of £80 m are the costs of two exceptional one off items relating to refinancing which add up to £60 m.

This makes the figures look worse than they are.

Only that is countered by the lack of payments on the PIK notes in this set of accounts. That continues to accrue interest each year in the holding company, with the interest rolled up onto the capital, compounding the impact. It will be £30m worth this year.

 

[Blueto]

And there was me gullibly believing Slur Alex that he had money to spend, but players were over priced.
I wonder if he will ever come out and admit he's a liar covering up for the piss taking yanks.
USA, USA, USA, USA

 

[portisheadblue]

Having read numerous articles; and not being an expert; it seems the Rags made a "cash profit" (on EBITDA basis) of £100M ... but when consolidated with all the other stuff they lost £83M ... my maths says that the "other stuff" must have cost £183M.

Some of the "stuff" is one-off costs relating to the Bond they issued so let's say for arguements sake that was the whole £183M .... and let's say they can continue to make £100M "cash profit" every year from now on. Plus they have £165M in the bank.

Well they are still f*cked rotten I think.

First, the Glazers, bless them, can take £130M out of the club any time they like (and they have to do so to pay off the PIK's that they personally hold) so basically that takes care of thier current cash pile.

Second, they start paying interest on the bond next year at £45M per year. Plus they have to start saving up to repay the bond due in 2017 so that is £70M per year. These two total £115M wiping out thier "cash profit" without them buying any more players.

Of course they could always go to Northern Rock and re-finance their Bond, that way though they will always have massive debts.

Roll on Finanacial Fair Play Rules.

Cheers

 

[JoeMercer'sWay]

And there was me gullibly believing Slur Alex that he had money to spend, but players were over priced.
I wonder if he will ever come out and admit he's a liar covering up for the piss taking yanks.
USA, USA, USA, USA

not really, he'll just say he has the money in the bank to spend.